Pemberton Signs LOI on a 160-Acre Lease Extension

Pemberton Energy has entered into a letter of intent for a lease extension on subsurface mineral rights from surface to basement on a 160-acre parcel in the Peace River Arch Area.

The previous lease agreement had a November 2, 2007 expiration date.

Under the extension, Pemberton will retain a 75% beneficial interest over a term of two years. The company will assume 100% of the drilling and completion costs of the well, inclusive of all operating, processing, transportation and production costs. This land is part of the recently shot 3D seismic program.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Load Planner/ Dispatcher Frac Sand
Expertise: Dispatcher|Project Management
Location: Mansfield, TX
Project Engineer
Expertise: Electrical Engineering|Instrument & Controls Engineer|Project Management
Location: Deer Park, TX
Land GIS Spatial Analyst - Mineral Land
Expertise: Contracts Engineer|Geologist|Lease Analyst
Location: Denver, CO
search for more jobs

Brent Crude Oil : $48.06/BBL 2.51%
Light Crude Oil : $45.77/BBL 2.17%
Natural Gas : $2.97/MMBtu 2.30%
Updated in last 24 hours